Advertisement

Cosco's public pair key to restructuring

Reading Time:1 minute
Why you can trust SCMP
0

Cosco, the China Ocean Shipping (Group), will take advantage of its listed vehicles - Cosco Pacific and Cosco International - to expand its business empire.

The new vice-chairman and executive director of the two companies, Liu Guo-yuan, said the parent company was considering ways of using its vehicles to strengthen its position in the shipping industry.

It would be part of a group restructuring to enhance its capabilities, he said.

Mr Liu succeeded Dong Jiu-feng in the top jobs at the start of the month.

He is also vice-chairman and executive director of Cosco (Hong Kong) Group, an unlisted vehicle of Cosco, the mainland's biggest shipping company.

In his first public meeting with the media, Mr Liu said the group would see growing competition with China's admission soon into the World Trade Organisation.

Advertisement